Nokia Plots Cheaper Lumia

Nokia Corp.'s newly launched Lumia smartphones are a central plank of its turnaround strategy, but early returns show these devices aren't exactly winning over consumers in a brutally competitive market.

Chief Executive Stephen Elop said Thursday that "actual sales results have been mixed" of the Lumia phones, a disappointment for a company fighting to stay relevant in a market teeming with lower-priced devices.

"We...

RELATED VIDEO

Nokia to 'Deeply' Discount Lumia Phones

Disappointing sales of Nokia's new Lumia smartphones will soon result in "deeply" discount the devices to spur sales, George Stahl reports on digits. Photo: Nokia.